Below the 200 and 100 hour MAs now
The USDCAD has dipped below its 200 and 100 hour MAs at 1.3450 adn 1.3439 respectively. Stay below that area (beloow 1.3450) would keep the sellers in control.
Having said that, the 1.3430 is a floor that needs to be broken to solicit more selling. That for stalled the market during yesterday’s trade (see red numbered circles). The low just stalled ahead of that level.
Sellers are taking more control, but they have work to do.